I'll will have to get back to you on your first question about punch in and out. I know how to do it, but I'm at work now and will have to look at it to be able to explain it clearly. I will get back to you on it.

As for question 2, open the audio view, right click on the audio signal you want to pan and apply a pan envelope to the signal. You can control the amount of the pan graphically with a line that will appear when you create the envelope. Move the line up to pan left, and down to pan right. You can also add nodes to the moveable line so you can make the pan go back and forth. Hope this helps, I'm not the greatest at explaining things.